Can you sell your Greenville property while going through divorce?

Divorce takes a toll on you and your spouse, both financially and emotionally. It also takes time to figure out which Greenville house will go to which spouse.

A big decision you and your spouse will go through is whether or not to sell your house. Keep reading if you want to know how to sell your Greenville house during divorce.

Should You Sell Your House During Divorce?

Selling your house is not the only option for you and your spouse. You can also look up these common options:

     

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    Divide large assets

    If you and your spouse have multiple large assets in Greenville — like your primary house plus a vacation home or a big stock portfolio — then you might just agree to split them up, with each person getting assets worth roughly the same amount. One person gets the house, and the other gets the boat and the stock portfolio.

    If you have a lot of assets, dividing them can be a quicker way to end your marriage, since you don’t have to wait for a property sale or negotiate who should get more money from the Greenville home’s appreciation. However, to come to an equitable agreement, you’ll have to negotiate the value of all the assets.

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    Buy the other spouse out

    The person who wants to keep the Greenville house pays the spouse half the property’s current market value to gain sole ownership. In an equitable distribution state, the buyout may be more or less than half the market value, depending on factors like income, financial contributions, and earning potential.

     

    Some spouses keep the family Greenville house to maintain consistency for their kids, or because it’s near school or work. If your local real estate market isn’t doing well, and you’d lose money if you sold, this could be a good option.

    However, a buyout requires that the person doing the selling has access to a lot of money that isn’t subject to the rest of the divorce, though sometimes it can be rolled into a home refinance. Make sure you can still afford your mortgage payment (if you have one) on one income.

    How to Sell Your Greenville Property During Divorce

    Selling the house has its appeal. Divorcing couples can sell their house for a clean break and closure. The money can also be used to pay for divorce attorney fees, settle debts, and finding a new place to live. Just remember that you have to pay capital gains tax if you don’t own the Greenville house for at least two years.

    When you’ve made up your mind, some key decisions you have to make involve how best to sell your house. You’ll be busy handling divorce proceedings, so it might make sense to hire a real estate agent to handle the selling process in Greenville for you. They will meet with the clients to show them the home and negotiate the best price for the property.

    However, selling the traditional way comes with some catches. You want your home to sell fast, so you might need to spend on renovations and repairs. The agent will also require commissions from the sale, so you will not get the whole amount. Listing your property on the Greenville market is also a waiting game — and the longer it stays on the market, the less appealing your home could be.

    But if you’re saying “I want to sell my house fast” during divorce, a cash home buyer is the best option for you. Companies that buy houses for cash in Greenville pay for the fair value of your home. They won’t even require that you repair or remodel your property — they will buy it at any condition.

    What makes selling for cash appealing is that the transaction is simple and easy. Since these buyers pay in cash, they don’t need to wait for feedback from a lender to see if their mortgage has been approved. Because of this, you’ll receive the money in a matter of days.

    Sell to a Professional Home Buyer

    Need to sell your house fast? Sell My House Fast – GSAP is the perfect solution for you. We buy houses in Greenville in any condition and whatever situation homeowners are facing. The best part is, our process is simple, straightforward, and customized to your needs. 

    We’ll go through your Greenville house with you, learning about your needs and explaining the process as we go. We’ll give you a cash offer based on our property analysis that won’t be reduced by inspections or appraisals. We’ll buy your house in cash, so you won’t have to worry about financing.

    Got any questions? Get in touch with one of our agents today by calling (864) 428-9197.

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